Scams Against the Elderly on the Rise

Virginia’s reported cases of financial exploitation of the elderly rose from 373 in 2001 to 756 in 2009. Many more cases are not reported because senior citizens avoid reporting incidents for fear of being sent to a nursing home or testifying in court.

Last month, a caregiver and a social worker were charged with taking over $24,000 from an 89-year-old client. Last year, Brooke Astor’s son was convicted of stealing over $1 million while she had Alzheimers. This year, an ex-con was convicted of raiding an 84-year-old’s bank account of $131,000 after persuading her to marry him.

While these stories made the headlines, there are many more cases that involve less money but still devastate senior citizens’ lives. For example, Ted and Eleanor Beattie, 96 and 92, fell victim to a scheme that cost them $4,550. They paid an ex-con to fix their roof after he threw a ladder up and claimed that it needed immediate attention. There is no evidence that the man actually did any work. The video interview is below: 
 

See Dan Morse, In the D.C. Area and Across the U.S., Scams Against Senior Citizens are on the Rise, Washington Post, July 7, 2010.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention.